USDJPY

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0152%/8h= −16.6% APRnext payment −$1.52 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Bybit+0.096%7-day average +0.216% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$980.984% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now +0.096%, 7d avg +0.216%

Together, before fees+0.039%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.120% cheaper against Bybit than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.216%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit USDJPYUSDT	157.27	0	get 0.0000% / 8h	1h 07m	$282K	$158K	100x
Short	Bitget USDJPYUSDT	157.42	−0.0152	pay 0.0152% / 8h	1h 07m	$574K	$153K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee BitgetbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$31.92
Price spread: +0.096% → +0.216%: −$11.99
Slippage, 4 orders: −$75.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$142.3
Costs to cover: 0.984%
Break-even: never at this rate

Slippage from Bybit: live order book, 18 min ago; Bitget: live order book, 33 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 18 min ago	0.83 bp	11.6 bp −$12	31.3 bp −$313	41.9 bp −$4,189	doesn't fit
Sell Bitget live order book, 33 min ago	0.32 bp	6.3 bp −$6	6.9 bp −$69	doesn't fit	doesn't fit

USDJPY on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:JPY	−0.0307%	1h	157.50	+0.147%	$29.3M	$3.1M	50x	as long as short
Bitget USDJPYUSDTshort	−0.0152%	8h	157.42	+0.096%	$574K	$153K	100x
Hotstuff USDJPY-PERP	−0.0120%	1h	157.50	+0.147%	$33K	—	50x	as long as short
Ondo Perps USDJPY-USD.P	−0.0100%	1h	157.50	+0.150%	$35K	$7K	10x	as long as short
Lighter USDJPY	−0.0080%	1h	157.47	+0.129%	$552K	$360K	50x	as long as short
edgeX USDJPYUSDC	−0.0075%	4h	157.49	+0.141%	$5K	$134K	50x	as long as short
Extended USDJPY-USD	−0.0064%	1h	157.63	+0.228%	$842K	$82K	25x	as long as short
Nado USDJPY-PERP	−0.0017%	1h	157.67	+0.256%	$98K	$7K	40x	as long as short
Bybit USDJPYUSDTlong	0.0000%	8h	157.27	long leg	$282K	$158K	100x
Orderly PERP_USDJPY_USDC	0.0000%	8h	157.62	+0.223%	$25K	$52K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX USDJPY-USDT	0.0000%	1h	157.48	+0.134%	—	$2.4M	10x	as long as short
HTX USDJPY-USDT	0.0000%	1h	157.54	+0.172%	$9K	$317K	20x	as long as short
Pacifica USDJPY	+0.0100%	1h	157.39	+0.080%	$95K	$63K	50x	as long as short
Aevo USDJPY-PERP	+0.0104%	1h	157.41	+0.092%	$25K	$500	10x	as long as short
Injective USDJPY/USDC PERP	+0.0186%	1h	157.70	+0.273%	$40K	$72K	101x	as long as short